Logan Capital Management Inc. Has $1.74 Million Stake in Charles River Laboratories International, Inc. $CRL

Key Points

• Logan Capital Management Inc. reduced its stake in Charles River Laboratories International by 47.5%, holding 11,574 shares valued at $1.74 million as of its latest SEC filing.
• Several institutional investors, including Goldman Sachs, made significant investments in Charles River Laboratories, with Goldman Sachs increasing their stake by 407% in the first quarter.
• Analysts have a consensus rating of "Hold" on Charles River Laboratories, with an average price target of $177.07, indicating mixed market sentiment.

Logan Capital Management Inc. lessened its holdings in shares of Charles River Laboratories International, Inc. (NYSE:CRL - Free Report) by 47.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,574 shares of the medical research company's stock after selling 10,482 shares during the quarter. Logan Capital Management Inc.'s holdings in Charles River Laboratories International were worth $1,742,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas acquired a new position in shares of Charles River Laboratories International in the first quarter valued at approximately $1,231,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Charles River Laboratories International by 15.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,118 shares of the medical research company's stock valued at $952,000 after purchasing an additional 817 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Charles River Laboratories International by 13.1% in the first quarter. Janney Montgomery Scott LLC now owns 44,500 shares of the medical research company's stock valued at $6,698,000 after purchasing an additional 5,148 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Charles River Laboratories International by 61.6% in the first quarter. GAMMA Investing LLC now owns 1,398 shares of the medical research company's stock valued at $210,000 after purchasing an additional 533 shares during the last quarter. Finally, Concurrent Investment Advisors LLC acquired a new stake in Charles River Laboratories International during the first quarter worth approximately $213,000. Institutional investors and hedge funds own 98.91% of the company's stock.

Charles River Laboratories International Trading Down 0.5%

Charles River Laboratories International stock traded down $0.80 during trading hours on Monday, reaching $152.09. 143,883 shares of the company's stock were exchanged, compared to its average volume of 1,221,342. The company has a quick ratio of 1.10, a current ratio of 1.36 and a debt-to-equity ratio of 0.69. The firm's 50 day simple moving average is $160.79 and its 200 day simple moving average is $148.60. Charles River Laboratories International, Inc. has a twelve month low of $91.86 and a twelve month high of $230.02. The firm has a market capitalization of $7.48 billion, a PE ratio of -114.44, a PEG ratio of 4.89 and a beta of 1.47.

Charles River Laboratories International (NYSE:CRL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The medical research company reported $3.12 earnings per share for the quarter, topping analysts' consensus estimates of $2.50 by $0.62. Charles River Laboratories International had a positive return on equity of 15.74% and a negative net margin of 1.69%.The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $983.76 million. During the same period last year, the business posted $2.80 EPS. The business's revenue was up .6% compared to the same quarter last year. Research analysts predict that Charles River Laboratories International, Inc. will post 9.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

CRL has been the topic of a number of analyst reports. Jefferies Financial Group raised Charles River Laboratories International from a "hold" rating to a "buy" rating and increased their price target for the stock from $142.00 to $195.00 in a research report on Tuesday, September 9th. Barclays increased their price target on Charles River Laboratories International from $155.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Evercore ISI increased their price target on Charles River Laboratories International from $180.00 to $190.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Wall Street Zen raised Charles River Laboratories International from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Finally, JPMorgan Chase & Co. increased their price target on Charles River Laboratories International from $145.00 to $160.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $177.07.

Insiders Place Their Bets

In other Charles River Laboratories International news, EVP Joseph W. Laplume sold 800 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $157.60, for a total transaction of $126,080.00. Following the completion of the sale, the executive vice president directly owned 24,116 shares in the company, valued at approximately $3,800,681.60. This trade represents a 3.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.30% of the company's stock.

About Charles River Laboratories International

Charles River Laboratories International, Inc provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing).